On April 25, 2025, American Express Company issued $5 billion of new debt across four offerings:
$1.6 billion of 4.731% Fixed-to-Floating Rate Notes due 2029, $1.5 billion of 5.016% Fixed-to-Floating Rate Notes due 2031, $1.5 billion of 5.667% Fixed-to-Floating Rate Notes due 2036, and $400 million of Floating Rate Notes due 2029. The notes were issued under the company's existing shelf registration and senior indenture arrangements.

American Express Posts Strong Q1 2025 Results with 9% EPS Growth

American Express (NYSE: AXP) reported a robust first-quarter performance, with net income rising to $2.6 billion, or $3.64 per share, up 9% from $3.33 in the same period last year. Revenue for the quarter grew 7% year-over-year to $17.0 billion, or 8% on an FX-adjusted basis.

The company attributed the growth to higher card member spending, increased net interest income, and continued strong card fee revenue. Billed business reached $387.4 billion, up 6%, while FX-adjusted revenue excluding the leap year effect rose 9%.

Chairman and CEO Stephen J. Squeri emphasized strong credit performance, steady consumer spending, and high demand for premium products. "We are maintaining our full-year revenue growth guidance of 8–10% and earnings per share guidance of $15.00 to $15.50," he said.

Credit loss provisions decreased to $1.2 billion, down from $1.3 billion a year ago, due to a modest net reserve release. Meanwhile, operating expenses rose 10% to $12.5 billion, driven by higher customer engagement costs and greater use of travel-related benefits.

The company’s effective tax rate for the quarter was 22.4%, nearly flat compared to the previous year.

American Express reaffirmed its strategy to focus on long-term growth through disciplined expense management, continued investments in its brand, and backing its premium customer base.

American Express Reports March 2025 Card Delinquency and Write-Off Rates

American Express disclosed delinquency and write-off statistics for its U.S. Consumer and Small Business Card Member loans for the first quarter of 2025. Total loans reached $121.3 billion, with consumer loans at $90.1 billion and small business loans at $31.2 billion.

Delinquency rates held steady at 1.4% for consumers and 1.6% for small businesses. Net write-off rates were 2.4% and 2.6%, respectively. These figures exclude the Lowe’s small business portfolio, which was reclassified as held for sale in December 2024.

The separate Lending Trust reported an annualized net default rate of 1.5% for March, in line with January and slightly lower than February’s 1.8%. Delinquencies for the trust remained constant at $0.2 billion.

American Express Company (NYSE: AXP) plans to host a live audio webcast of its earnings conference call at 8:30 a.m. (ET) on Thursday, April 17, 2025, to discuss first-quarter 2025 financial results.

American Express has released delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios for February, January, and December 2024. As of February 28, 2025, total U.S. Consumer Card Member loans stood at $87.8 billion, with a delinquency rate of 1.4% and a net write-off rate of 2.5%. U.S. Small Business Card Member loans totaled $30.2 billion, with a delinquency rate of 1.6% and a net write-off rate of 2.6%.

The report also provides credit performance data for the American Express Credit Account Master Trust. As of February 28, 2025, the trust’s total principal balance was $24.7 billion, with an annualized default rate of 1.8%, up from 1.2% in December 2024.

The company noted that these figures exclude loans related to its Lowe’s small business co-brand portfolio, which were reclassified as held for sale in December 2024. American Express highlighted that reported credit performance may vary due to seasonality, timing of holidays, and differences in loan characteristics between securitized and non-securitized portfolios.

American Express Board Authorizes 17 Percent Dividend Increase
March 3, 2025
NEW YORK--(BUSINESS WIRE)-- The Board of Directors of American Express Company (NYSE: AXP) has approved a $0.12, or 17 percent, increase in the quarterly dividend on the company’s common stock, consistent with the planned increase discussed in the company’s fourth-quarter 2024 earnings release.

The dividend was raised to $0.82 per common share, from $0.70, payable on May 9, 2025, to shareholders of record on April 4, 2025.

American Express announced that Michael J. Angelakis has been elected to its Board of Directors, effective March 3, 2025. He is the Chairman and CEO of Atairos, a strategic investment company, and will join the Board’s Audit and Compliance Committee and Nominating, Governance and Public Responsibility Committee.

Stephen J. Squeri, Chairman and CEO of American Express, highlighted Angelakis' leadership experience in corporate finance, strategic investments, and global business transformation. Angelakis previously served as Vice Chairman and CFO of Comcast Corporation and has held roles at Providence Equity Partners and other financial and media organizations. He has also chaired the Board of the Federal Reserve Bank of Philadelphia.

Angelakis currently serves on the boards of Exxon Mobil Corporation, Lucky Strike Entertainment, TriNet Group, Arcis Golf Corporation, The Orogen Group, Aston Villa F.C., and V Sports. He will step down from the board of Clarivate Plc after its Annual Meeting on May 7, 2025.

For media inquiries, contact Deniz Yigin at deniz.yigin@aexp.com. For investor inquiries, contact Kartik Ramachandran at kartik.ramachandran@aexp.com or Amanda Blumstein at amanda.blumstein@aexp.com. The full announcement is available on the American Express website.

Here’s the response again without bold:

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American Express reported its U.S. Consumer and U.S. Small Business Card Member lending portfolio statistics for January 2025. Total U.S. Consumer Card Member loans stood at $89.4 billion, with a 1.4% delinquency rate and a net write-off rate of 2.3%. U.S. Small Business Card Member loans totaled $30.1 billion, with a 1.6% delinquency rate and a net write-off rate of 2.5%.

The company also provided data from its Lending Trust, which had an ending total principal balance of $25.5 billion as of January 31, 2025. The annualized default rate net of recoveries was 1.5%, slightly up from December 2024’s 1.2%.

American Express noted that effective December 1, 2024, it reclassified $758 million in loans related to its Lowe’s small business co-brand portfolio, removing them from the reported data for December and January. It also highlighted differences between the Lending Trust’s reported credit performance and the overall consumer and small business portfolios, citing factors such as loan mix, aging, and calculation methodology.

American Express Company filed a Form 8-K on January 30, 2025, announcing the issuance of three types of notes:

$1.45 billion of 5.085% Fixed-to-Floating Rate Notes due 2031
$1.25 billion of 5.442% Fixed-to-Floating Rate Notes due 2036
$300 million of Floating Rate Notes due 2031

These notes were issued under a senior indenture with The Bank of New York Mellon as trustee, supplemented by agreements from 2021 and 2023. The issuance was conducted through a prospectus supplement dated January 28, 2025, under the company’s registration statement on Form S-3.

The filing also includes exhibits such as the legal opinion and consent from counsel. The report was signed by James J. Killerlane III, Corporate Secretary.

American Express has announced key executive leadership changes as part of its ongoing growth strategy. Anré Williams, CEO of American Express National Bank (AENB) and Enterprise Services, will leave the company later this year to pursue leadership opportunities outside of American Express. Williams, who has been with the company for over 35 years, will transition his responsibilities and serve as Senior Executive Advisor until early November.

In response to these changes, several leadership appointments have been made, effective February 3, 2025. Howard Grosfield will become Group President of U.S. Consumer Services (USCS) and will now oversee Technology, Enterprise Digital & Data Services, and Digital Labs. Raymond Joabar will assume the role of Group President of Global Commercial Services (GCS), also overseeing the Global Servicing team. Mohammed Badi will become President of Global Servicing, while Anna Marrs will lead Global Merchant and Network Services (GMNS), with additional responsibilities over Credit and Fraud Risk, Global Strategic Partnerships, and the China Joint Venture.

Denise Pickett will take on the newly created role of President, Enterprise Shared Services (ESS), overseeing Global Real Estate, Workplace Enablement, Global Supply Management, Global Security, Business Continuity Management, and Aviation.

Additionally, Raj Bharadwaj has been promoted to report directly to CEO Stephen J. Squeri, who will assume the role of CEO of AENB following Williams’ departure. Other leadership transitions include Gina Taylor now reporting to Chief Risk Officer Doug Tabish.

Vice Chairman Doug Buckminster will continue in his role, overseeing Global Advertising and Brand Management and Corporate Development. The company’s executive leadership remains committed to its long-term growth strategy and enhancing its risk management culture.

he Board of Directors of American Express Company (NYSE: AXP) declared a quarterly dividend on the Company’s 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D, of $8,875.00 per share (which is equivalent to $8.87500 per related Depositary Share).

The dividend is payable on March 17, 2025 to shareholders of record on March 1, 2025.

American Express reported a strong financial performance in FY 2024, with earnings per share (EPS) increasing 25% to $14.01 and net income reaching $10.1 billion, up from $8.4 billion in 2023. Total revenues net of interest expense rose 9% to $65.9 billion, driven by higher card member spending, increased card fee growth, and higher net interest income. Credit loss provisions increased slightly to $5.2 billion, reflecting higher net write-offs, while expenses rose 6% due to higher customer engagement costs and marketing investments.

For FY 2025, the company projects revenue growth of 8–10% and EPS between $15.00 and $15.50. Additionally, American Express plans to raise its quarterly dividend by 17% to $0.82 per share. CEO Stephen J. Squeri highlighted record levels of card member spending, 13 million new card acquisitions, and strong growth among Millennial and Gen Z customers as key drivers of the company’s momentum.

In the fourth quarter of 2024, net income increased 12% year-over-year to $2.2 billion, or $3.04 per share, while revenues grew 9% to $17.2 billion. Credit loss provisions decreased, and expenses rose due to higher customer engagement and marketing investments.

American Express will host an investor conference call to discuss these results, with additional details available on the company’s investor relations website.

American Express Company disclosed its U.S. Consumer and U.S. Small Business Card Member lending portfolios' delinquency and write-off rates for December 2024 through a Form 8-K report filed with the SEC. As of December 2024, American Express reported total U.S. Consumer Card Member loans at $92.6 billion with a steady delinquency rate of 1.4% and a net write-off rate of 2.1%. The U.S. Small Business Card Member loans totaled $29.6 billion, maintaining a 1.5% delinquency rate and a net write-off rate of 2.4%. Additionally, the company noted a reclassification of $758 million in loans related to its Lowe’s small business co-brand portfolio as held for sale, which were not included in the December figures.

The filing highlights a consistent performance in loan repayments and credit management across both portfolios with negligible fluctuations in delinquency rates over the reported months. American Express also provided information on the credit performance of its Lending Trust, offering a more detailed view of the broader financial health and stability within its credit operations. The American Express Credit Account Master Trust reported a minor variation in its annualized default rates, net of recoveries, marking them at 1.2% for December 2024. These metrics are integral for understanding American Express's risk management and financial steadiness in its lending practices.